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Colruyt expects unchanged 2012/2013 net profit
September 26, 2012 / 4:26 PM / 5 years ago

Colruyt expects unchanged 2012/2013 net profit

HALLE, Belgium, Sept 26 (Reuters) - Belgian discount retailer Colruyt expects 2012/2013 net profit to be unchanged compared to the previous year, given the difficulty of passing on higher food prices to increasingly thrifty consumers, the group said on Wednesday.

The average forecast in a Thomson Reuters I/B/E/S poll is for Colruyt’s net profit in the year to the end of March 2013 to be 356.7 million euros ($458.0 million), a rise of 4 percent.

“We can only partly pass on higher food prices to customers and higher wage costs and energy prices are weighing on our costs structures,” Chief Executive Jef Colruyt told shareholders at the group’s annual meeting at its headquarters just outside of Brussels. ($1 = 0.7788 euros) (Reporting By Robert-Jan Bartunek; editing by Philip Blenkinsop)

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